New Directive 77/388/EEC on system of value added tax
Council Directive 77/388/EEC of 17 May 1977 on the harmonisation of the laws ofthe Member States relating to turnover taxes — Common system of value added taxand uniform basis of assessment has been significantly and repeatedly amended.Therefore there was need for an updated and integrated Directive governing thesystem of added valued tax. The new Council Directive 2006/112/EC on the commonsystem of value added tax summarizes the whole system and stipulates the rulesto be generally applied. The Directive also contains a list of Directives thatare repealed by this Directive. This Directive entered into force on 1 January2007 and must be implemented by Member States by 1 January 2008.
Other articles
KŠB advises the founders on the sale of the LIPOELASTIC Group
KŠB, in collaboration with investment advisers from the Roklen Group, advised LIPOELASTIC Group founders Alena and Tomáš Hradil on their exit from the group, which they had built up over almost twenty-five years.
Chemistry Brings People Together: KŠB at the 2026 Evening of Czech Chemistry
Czech chemistry and the chemical industry are built on innovation, responsibility and the people who drive the field forward. On Thursday, 22 October 2026, leading figures from the field and industry representatives came together at the Grand Hotel International Prague for the Czech Chemical Industry Association’s annual Evening of Czech Chemistry.
KŠB advises Smart Energies Group on transaction supporting wind power development
KŠB has advised Smart Energies Group (SEG) on a transaction with NOHO and innogy Česká republika. The transaction is intended to support the development of wind power in the Pardubice Region and is built on the synergy between wind power generation and battery energy storage.
